Which of the following statements is incorrect regarding the SEP IRA?
A) Both employers and employees can contribute to the plan.
B) Contributions made by the due date of the tax return can be treated as made on the last day of the related tax year.
C) Employer contributions must be nondiscriminatory.
D) The maximum contribution for 2018 is $55,000.
A) Both employers and employees can contribute to the plan.
Only employers can make contributions to a SEP IRA.
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Which of the following information sources already existed and were not developed for the particular problem at hand?
A) primary B) secondary C) quantitative D) qualitative
_____ arise from relatively infrequent transactions, and there can be no assurance that they will recur in any future period
a. Gains/Losses b. Revenues c. Expenses d. Assets e. Liabilities
In December 2016, a donor to a college established a trust in which college receives $5,000,000 to be invested. The donor's spouse is to receive $40,000 of the income per year for ten years. At that point, the assets and income revert to the college. The college estimates that the present value of the anticipated receipts from the trust amount to $4,800,000. How should this $4,800,000 be recorded in 2016, assuming The College is aprivate institutionThe College is apublic institutionA)Contribution revenueDeferred inflowB)Contribution revenueContribution revenueC)Deferred inflowDeferred inflowD)Deferred inflowContribution revenue
A. A) B. B) C. C) D. D)
Visual kinesic communication includes gestures, winks, smiles, frowns, sighs, attire, grooming, and all kinds of body movements
Indicate whether the statement is true or false